Crosshair Commences Drilling in the Central Mineral Belt, Labrador

Crosshair Exploration & Mining Corp. CXZ announces that drilling has commenced at both the CMB Uranium/Vanadium Project and the CMB Joint Venture Uranium Project located in central Labrador, Canada. The CMB JV Project is a joint venture with Silver Spruce Resources, whereby Crosshair retains a 63% ownership and Silver Spruce 37%. The 2011 program will consist of 8,500 metres of drilling as well as prospecting, sampling, and trenching. The goal of the program is to increase the existing uranium and vanadium resources, as well as test the new uranium targets outlined from the 2009 and 2010 exploration programs. The program is expected to take 3 months to complete and cost approximately $3.8 million. "We are glad to be back in Labrador and taking these projects another step," says Stewart Wallis, P.Geo., President and CEO. "The last couple of years' work has outlined some very interesting targets that we look forward to drilling."